FWD Group Reports Strong New Business Growth and Strategic Financial Improvements

FWD Group Holdings Limited reported strong new business growth for the nine months ended 30 September 2025, with new business sales increasing 37 percent to US$1.935 billion compared to the same period in 2024 on an annualised premium equivalent basis. The company also achieved new business contractual service margin of US$1.158 billion, representing year-on-year growth of 27 percent, strengthening the company's financial foundation and future earnings potential.

Strategic capital management actions significantly enhanced FWD Group's financial position during this period. In September, the company refinanced US$1.15 billion of debt and redeemed US$500 million of debt primarily using proceeds from its recent initial public offering. These actions reduced leverage to 21.8 percent on a proforma basis as at 30 June 2025 and lowered annualised financing costs by approximately US$72 million, providing substantial benefits to shareholders and improving the company's competitive positioning.

Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, emphasized the significance of these developments, stating that the strong new business results were powered by organic growth across most of the 10 Asian markets where the company operates. The surge in new business contractual service margin represents a positive indicator of value creation for shareholders and contributes to strengthening the CSM balance while boosting earnings over time.

The company's strategic refinancing actions, combined with the successful IPO in July, have positioned FWD Group to accelerate its customer-led growth strategy and advance risk management priorities. The significant reduction in financing costs and leverage provides the company with enhanced financial flexibility to pursue growth opportunities across its pan-Asian operations while maintaining financial stability.

Market performance varied across FWD Group's operating regions, with exceptional demand from both local and visiting customers driving strong new business growth in Hong Kong SAR and Macau SAR. Emerging markets demonstrated particularly robust performance, with strong double-digit growth in new business sales reflecting momentum in Singapore, Malaysia, the Philippines, and the company's joint venture in Indonesia, BRI Life. For more information about the company's operations, visit https://www.fwd.com.

In Japan, new business sales growth reflected solid performance in the individual protection business and the company's recent entry into the retirement and savings market, expanding FWD Group's product offerings and market reach. However, the low-interest rate environment continued to weigh on new business indicators in the Thailand and Cambodia reporting segment, highlighting the diverse economic conditions across the company's operating markets.

Throughout 2025, FWD Group continued to anticipate and respond to rapidly evolving customer needs for protection, health, and savings products, introducing over 40 new products to meet market demands. This customer-focused approach, combined with the company's strengthened financial position, positions FWD Group for sustained growth across its diverse Asian markets while maintaining financial discipline and shareholder value creation.